18th Feb 2019 17:53
LONDON (Alliance News) - Standard Chartered PLC on Monday said two independent non-executive directors, Om Bhatt and Han Seung-Soo, will step down from the board on Saturday.
In addition, the blue-chip bank said it appointed Carlson Tong as an independent non-executive director with effect from Thursday. Carlson will also join the Audit, Risk and Financial Crime Risk committees.
Carlson spent over 30 years at KPMG, Standard Chartered said, where he was elected chair of KPMG China & Hong Kong in 2007, and chair of Asia Pacific in 2009, before retiring in 2011.
"Carlson has a deep understanding and knowledge of operating across mainland China, Hong Kong and the wider Asia Pacific region as well as an acute awareness of the financial services sector, the regulatory framework and the sensitivities and relationships in some of our key markets," said Chair Jose Vinals.
Meanwhile, Seung-Soo has served on the board of Standard Chartered for nine years and was a member of the Brand, Values & Conduct committee.
In addition, Bhatt, who was also a member of Risk and Brand, Values & Conduct committees, will step down after six years of service, given his inability to travel for some time hence.
"On behalf of the board I would like to thank Han Seung-Soo for his substantial contributions to the group over the past nine years, as well as his considerable insight into Asia, particularly Korea. I would also like to thank Om Bhatt for his important contribution to the group over the past six years, in particular his insight into banking and India," added Vinals.
Standard Chartered shares closed 1.5% lower on Monday at 628.50 pence each.
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